Allied Corp. Advances Psilocybin Product Psilonex™ RX and Initiates Manufacturing Process




Allied Corp. ("Allied" or the “Company”) (OTCQB: ALID) is pleased to announce that it has initiated the manufacturing activities for Psilonex™ RX – Allied’s proprietary psilocybin product. On June 29, 2021, Allied announced its manufacturing agreement with HAVN Life Sciences to manufacture Psilonex™ RX under their legal licenses and manufacturing process. Over the past months, Allied’s scientists have further developed the Psilonex™ RX formulation and, through Allied’s licensed manufacturing partner, has initiated the manufacturing process for the production of the medicine. This psilocybin product includes a proprietary formulation of extracted psilocybin, other functional mushroom extracts as well as a proprietary vitamin constituency.

Allied has what it believes to be a unique approach to treatment of general depression, anxiety and PTSD. Initially, patients are to be prescribed Psilonex™ RX (the psilocybin-based product) followed by a daily product of cannabidiol (CBD) called Psilonex™ Daily.

Under the direction of Mr. Jim Smeeding, Director and VP of Pharma of Allied Corp, Psilonex™ RX has been formulated as a specific concentration ratio of functional mushrooms, vitamins and psilocybin. Allied intends to bring Psilonex™ RX through to the completion of human clinical phase I trials, and then intends to seek a licensing arrangement with a big pharma partner.

“The anecdotal evidence we have obtained has guided our formulation of Psilonex™ RX. We believe we are working with real people with real world mental health concerns. In our view, Psilonex™ RX is showing great promise to help individuals who have given of their lives to help their country,” said Mr. Jim Smeeding, Director and VP of Pharma of Allied Corp.

About Mr. Smeeding:

Jim Smeeding, RPh, MBA, is the Executive Vice President of CP Pharmaceutical International, a division of CP Global Health. He is the former executive director of the National Association of Specialty Pharmacy (NASP). He is also a founder of the Center for Pharmacoeconomic Studies at the University of Texas College of Pharmacy. His research interests are in applied pharmacoeconomics, systems integration and managed care. His pharmacy degree is from the University of Buffalo and his MBA from the University of Texas. Over the past 45 years his practice orientation has been in hospital pharmacy, clinical services design, home infusion therapy, managed care services and disease management. He has authored more than 85 peer reviewed publications and has given hundreds of presentations. Within professional organizations, Jim has served at the state, national and global level. He is an original founder of the International Society of Pharmacoeconomics and Outcomes Research (ISPOR) and their 3rd president. ISPOR now exceeds 35,000 members with chapters on every continent, including Hong Kong & Beijing, and within all major countries.

About Allied Corp. - https://allied.health/

Allied Corp. is an international cannabis company with its main production center in Colombia and is one of the few companies that has exported from Colombia internationally. In preparing for US legalization, Allied also has the option to purchase a US cannabis license in the US (Nevada). In addition to this, Allied has three CBD-brands to market with products selling in the United States. Lastly, Allied has both Cannabinoid and psilocybin products in the pharmaceutical development track seeking pharma drug indications for depression, anxiety and PTSD.